Challenge: Creating a Strategic In-house Consumer Cybersecurity Capability

Facing escalating demand for B2C products that offer defense against identity theft and related threats, CRIF recognized the main necessity to bring third-party dark and open web personal data monitoring services in-house. The primary drive was to not merely maintain, but elevate the robustness and reliability of services, ensuring unwavering protection of consumers' online data and financial integrity.

Solution: Strategic Development and Integration by Onward Labs

Acknowledging the essential need, CRIF partnered with Onward Labs, tapping into their expertise not merely as a technical developer but as a strategic partner in envisioning and realizing a crucial capability. Onward Labs led the creation of a big data system, built from scratch, which monitors billions of breached data items to unveil risks of identity theft and other financial threats stemming from exposed data. Beyond crafting the software, Onward Labs facilitated the building of a world-class technical team, providing comprehensive training and enabling the strategic integration and in-house operation of the system after its development. Thus, a new business unit was formed, fundamentally underpinning CRIF’s product suite by embedding potent cybersecurity features, safeguarding at least 100k end users from cyber threats and identity theft.

Measurable Success: Surpassing Every KPI with Strategic Development

The dark web monitoring platform was not only delivered ahead of schedule and under budget but also surpassed every KPI during an 8-month comparative study against a third-party competitor, demonstrating superior data quality and automated alerting rates regarding risks of identity theft, fraud, and other cyber risks. The in-house platform strategically removed dependency on external providers and inherently powered CRIF’s product suite, adding a vital layer of data protection and threat mitigation for a significant user base.

Impact: Proven Superiority: Onward Labs Elevates In-House Solution Above Third-Party in Benchmark

Upon rigorous testing alongside the client, the system proved to significantly outperform a competitor, whose platform was valued at $360 million, in terms of data quality and alerting rate. Not only did CRIF validate the robustness of the solution but also underscored the strategic value of possessing an in-house capability that could be tailored and adapted in harmony with CRIF’s evolving requirements and market demands.

Conclusion: Forecasting a Future of Enhanced Cybersecurity

With the handover complete, CRIF is poised to independently operate and gradually expand the new platform to safeguard potentially millions more users across varied products and geographies. The projected service value extends into tens or hundreds of millions of pounds, presenting a profound return on investment and laying a robust foundation for future cybersecurity initiatives. This collaboration between Onward Labs and CRIF symbolizes a new paradigm of collaborative innovation, sustained value creation, and unfaltering consumer protection in the digital age.